Carlos Ghosn granted bail by Japanese court

Carlos Ghosn has been granted bail by a court in Japan, more than three months after the former Nissan chairman was arrested over allegations of financial misconduct.

Tokyo District Court on Tuesday said that Ghosn, the former leader of Nissan and Renault, could be released from detention on bail of 1 billion yen ($9 million).

Ghosn’s release is not guaranteed, however. Prosecutors are expected to appeal against the court’s decision and could file additional allegations keep him in detention.

Ghosn is accused of underreporting his income by tens of millions of dollars and transferring personal investment losses to Nissan – allegations he has repeatedly denied.

If found guilty, he could face as many as 15 years in prison.

One of the most prominent figures in the global auto industry, Ghosn was arrested by Japanese prosecutors on November 19. He has since been ousted from his role as the head of Nissan, Renault and Mitsubishi Motors, which together form the world's largest auto-making alliance.

His detention stunned the industry, strained the alliance.

Japan’s criminal justice system has drawn criticism over the length of Ghosn’s detention. On Monday, his family said they would appeal to the United Nations human rights council in protest at his “mediaeval” treatment.

Ghosn has repeatedly attempted to obtain bail previously without success.

Ghosn has alleged that his spectacular downfall is the result of a plot against him by Nissan executives who opposed his plan to deepen the Japanese company's integration with Renault.

Nissan's own investigation into its former chairman and CEO has "uncovered substantial evidence of blatantly unethical conduct," the spokesman said, adding that "further discoveries related to Ghosn's misconduct continue to emerge."